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Alternative Market Briefing

Gottex launches new fund of UCITS hedge funds as Q2 AuM down 8.3% to $7.26bn

Tuesday, July 20, 2010

From the Opalesque team:

The total fee-earning assets of Gottex, a global FoHFs house, were US$7.26bn at 30 June 2010, compared to $7.92bn at 31 March 2010, representing a change of -8.3%. Gottex Fund Management accounted for $6.8bn and Gottex Solutions Services (GSS) for $0.45bn.

Gottex' $6.80bn AuM for Q2 show a decrease of 8.8% when compared to $7.46bn in Q1-10. The decrease was largely driven by foreign exchange movements, technical factors, performance and returning cash to investors in run-off share classes.

New UCITS FoFs launched this month Gottex launched a UCITS III fund of funds product in Luxembourg earlier this month and is now in the process of 'passporting' it to the major European markets.

This fund of UCITS hedge funds qualifies for UCITS status without the use of financial structuring to meet UCITS III liquidity requirements, avoiding derivatives, wrappers or other synthetic structures to minimize maturity mismatches between underlying assets and liabilities.

Market neutral strategies: positive performance YTD The market neutral strategies posted positive performance YTD, outperforming many funds of hedge funds and equity indices, the latter declining substantially in Q2-10.

The HFRI Fund of Funds Composite Index was down 0.70% (est.) in June and down 1.03% YTD, whereas the HFRI Equity Market Neutral Index was down 0.71% (est.) and down 0.69% YTD. And the S&P 500 Index was down 7.57% YTD at the......................

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